Alpine Income Property Trust (NYSE:PINE) Price Target Increased to $21.00 by Analysts at Alliance Global Partners

Alpine Income Property Trust (NYSE:PINE) had its price target raised by Alliance Global Partners from $20.00 to $21.00 in a research report released on Friday, Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also recently issued research reports about the stock. Raymond James raised their price objective on shares of Alpine Income Property Trust from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st. B. Riley reiterated a “buy” rating and set a $20.00 price target (up from $19.50) on shares of Alpine Income Property Trust in a research report on Wednesday, July 24th. UBS Group assumed coverage on Alpine Income Property Trust in a report on Monday, October 14th. They issued a “neutral” rating and a $19.00 price target on the stock. Stifel Nicolaus lifted their price objective on Alpine Income Property Trust from $18.00 to $19.25 and gave the stock a “buy” rating in a report on Friday, July 19th. Finally, Truist Financial upped their target price on Alpine Income Property Trust from $16.00 to $18.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Alpine Income Property Trust presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.16.

Alpine Income Property Trust Stock Performance

Shares of PINE stock opened at $18.47 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.00. Alpine Income Property Trust has a 12-month low of $14.25 and a 12-month high of $19.42. The company has a market cap of $251.75 million, a price-to-earnings ratio of -461.75, a price-to-earnings-growth ratio of 1.74 and a beta of 0.80. The stock has a 50 day simple moving average of $18.04 and a 200-day simple moving average of $16.51.

Alpine Income Property Trust (NYSE:PINE) last released its quarterly earnings data on Thursday, October 17th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.19). The business had revenue of $13.48 million during the quarter, compared to analysts’ expectations of $12.08 million. Alpine Income Property Trust had a negative return on equity of 0.20% and a negative net margin of 1.16%. During the same quarter in the previous year, the company posted $0.37 EPS. On average, equities analysts forecast that Alpine Income Property Trust will post 1.65 EPS for the current year.

Alpine Income Property Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 12th were paid a dividend of $0.28 per share. This is a boost from Alpine Income Property Trust’s previous quarterly dividend of $0.28. This represents a $1.12 annualized dividend and a dividend yield of 6.06%. The ex-dividend date was Thursday, September 12th. Alpine Income Property Trust’s dividend payout ratio (DPR) is currently -2,800.00%.

Hedge Funds Weigh In On Alpine Income Property Trust

A number of institutional investors have recently modified their holdings of PINE. Sound Income Strategies LLC grew its stake in Alpine Income Property Trust by 8.3% in the 3rd quarter. Sound Income Strategies LLC now owns 795,428 shares of the company’s stock worth $14,477,000 after acquiring an additional 60,659 shares during the period. Renaissance Technologies LLC acquired a new position in Alpine Income Property Trust in the second quarter valued at $647,000. Dimensional Fund Advisors LP lifted its position in Alpine Income Property Trust by 7.6% during the second quarter. Dimensional Fund Advisors LP now owns 117,280 shares of the company’s stock worth $1,825,000 after buying an additional 8,332 shares during the period. Guardian Wealth Management Inc. boosted its stake in Alpine Income Property Trust by 4.3% in the 2nd quarter. Guardian Wealth Management Inc. now owns 45,681 shares of the company’s stock worth $711,000 after buying an additional 1,882 shares during the last quarter. Finally, ClariVest Asset Management LLC grew its holdings in Alpine Income Property Trust by 2.9% in the 2nd quarter. ClariVest Asset Management LLC now owns 54,299 shares of the company’s stock valued at $845,000 after buying an additional 1,516 shares during the period. Institutional investors and hedge funds own 60.50% of the company’s stock.

About Alpine Income Property Trust

Alpine Income Property Trust, Inc (NYSE: PINE) is a publicly traded real estate investment trust that seeks to deliver attractive risk-adjusted returns and dependable cash dividends by investing in, owning and operating a portfolio of single tenant net leased properties that are predominately leased to high-quality publicly traded and credit-rated tenants.